Latest News Headlines
Commercial Credit News
|Arrow Global expands European footprint with loan purchases in the Netherlands|
|Monday, 09 November 2015|
Arrow Global Group PLC (“Arrow Global” or “the Group”), a leading European purchaser and manager of debt portfolios announces that, in line with the Group’s European growth strategy, it has acquired a loan portfolio in the Netherlands with a face value of circa €173 million.
The purchase represents an expansion of Arrow Global’s footprint in the Dutch market, following an initial €1 million pilot investment in June 2014. The Netherlands is an established market with the total value of NPLs estimated at €116 billion1, with regular portfolio sales by second tier banks and credit institutions in particular, and with relatively high levels of credit bureau data available.
The portfolio consists of mainly unsecured, paying and non-paying accounts at various stages of the recoveries cycle. In addition to delivering returns expected to be in line with Arrow Global’s stated targets, the portfolio is also expected to provide significant levels of data that will help to inform future purchase decisions.
Tom Drury, Chief Executive Officer of Arrow Global commented: “We are delighted to announce this purchase which we have been monitoring for some time. It extends our footprint in the Netherlands and reinforces the strength of our brand in European markets, something which is key to our continued growth.
“We believe the Netherlands is an attractive market for Arrow Global, both in terms of the scale and development of the market and the availability of credit bureau data. This portfolio is incremental to the £23.1m of our Q4 pipeline that we announced was in implementation on 12 October. We are confident it will perform in line with our target returns and we remain on track to deliver overall full-year results in line with our expectations.”
Forums International Ltd
Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.
Find out more here.
The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.
CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.
As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.
Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.
GTS Media Ltd
81 Cambridge Road
Registered in England No: 05483197